How To Ask For A Raise

There are many characteristics that make us appreciate one specific job over another. Many times it's the environment and staff, but it's more often the salary that helps us choose one position over another. That's why, when a job loses its appeal, getting a raise might revive your motivation and make you want to get up in the morning for a fresh day of work. There are, however, many other aspects that come into play when preparing to get a raise. Read on and learn how to ask for a raise properly.

What's the going rate?

If you're trying to figure out how to ask for a raise, the first thing you need to understand is the current market rate. If you are a small-business consultant for example, it may be difficult to track this information since the bulk of the work is done on a contract-to-contract basis and rates vary depending on the level of knowledge required. More straightforward positions, such as a financial analyst, work on an hourly wage and the information is a lot easier to research.

This part of the whole process requires a little elbow grease, as the employee must do research to find out as much as he can about his position in the job market, the going salary, compensation packages, contract specifics, long-term advancement, and bonuses.

There are a few helpful sites out there for comparative salary data, but we specifically like WageWeb.com and PayScale.com since they both offer a simplified listing of jobs and positions in various fields.

If you work with computers and information systems, a good source for information is DataMasters.com. This site offers many references that are separated by geographical areas in the U.S. and a cost of living calculator.

Much of the available information on the internet deals with annual salary, while information regarding packages and bonuses is less readily accessible. Finding information of this nature requires a more skillful approach and you will probably need to ask coworkers or those in the field that you're researching.

Ask around

While it may not be representative of your industry, the best pertinent information can be found in your own workplace. So, while your navigating how to ask for a raise, keep in mind that you should arm yourself with salary information from your own office and the rest of the world.

While you gather information and prepare to ask for a raise you could ask a coworker how much he makes, but the person will often not want to divulge his annual salary. Instead, he may volunteer a hint about how much others make in the company. One of the best ways to find out this information is to have a friend in payroll. For that, you'll need to maintain friendships in the workplace. Furthermore, there are many benefits like stock options and bonuses that can add to the power of a paycheck, which is valuable information to know when first learning how to ask for a raise.

Figuring out how to ask for a raise doesn't have to be all stormy waters...